All About Taxation of India{Direct Taxes,Indirect Taxes,GST etc} (in Hindi)

Lesson 5 of 13 • 38 upvotes • 12:15mins

Vikas Kumar Singh Tomar

There are two types of taxes viz. Direct and Indirect Taxes. The Direct taxes are paid directly by the tax payer (individuals and the companies) while indirect taxes are paid while purchasing goods and services. Examples of Direct Taxes are Corporate Tax, Personal Income Tax, Securities Transaction Tax, Banking Cash Transaction Tax, Fringe Benefit Tax etc. Examples of Indirect taxes are Sales Tax, Service Tax, Custom and Excise Duties, VAT, Anti-Dumping Duties, Good and Services Tax etc. Apart from the above conventional taxes, there are also other taxes imposed for a particular objective or agenda. Such taxes are called wachh Bharat Cess tax, Krishi Kalyan Cess tax, and infrastructure Cess tax among others. Goods and Services Tax is a comprehensive indirect tax which is to be levied on the manufacture, sale and consumption of goods and services in India. This is so far the biggest tax reform in the country. GST eliminates the cascading effect of taxes because it is taxed at every point of business and the input credit is available in the value chain.